Metaplanet Unveils Plan to Accumulate 210K Bitcoin by 2027

TLDR:

• Metaplanet targets 210,000 Bitcoin by 2027 through shareholder-approved equity expansion measures. 
• Authorized preferred shares doubled to 555 million for Class A and B, enabling substantial fundraising. 
• Class B shares feature quarterly dividends, 130% issuer call, and access to overseas institutional investors. 
• Capital restructuring allows Bitcoin purchases without immediately diluting existing common shareholders. 

Metaplanet disclosed an ambitious strategy to accumulate 210,000 Bitcoin by the end of 2027 through shareholder-approved equity expansion measures. 

The Japanese company’s board secured authorization to restructure preferred share classes and implement new financial mechanisms supporting the cryptocurrency acquisition goal.

Comprehensive Equity Restructuring Enables Bitcoin Purchases

The firm’s extraordinary shareholder meeting produced approval across five strategic proposals designed to facilitate Bitcoin accumulation. 

Strategy director Dylan LeClair announced the voting results through social media platform X. The proposals encompass capital structure modifications that create flexibility for aggressive digital asset purchases.

Shareholders authorized shifting capital stock and capital reserves to capital surplus accounts. This accounting maneuver increases the company’s capacity to fund preferred share dividends and execute share buybacks. 

The restructuring provides financial breathing room for sustained Bitcoin acquisition campaigns.

Metaplanet received permission to double authorized preferred shares from 277.5 million to 555 million for both Class A and Class B categories. 

The expansion dramatically increases available instruments for capital raising activities. These additional shares form the foundation for funding the 210,000 Bitcoin target over the next three years.

Innovative Share Classes Target Global Institutional Capital

Class A preferred shares transitioned to a monthly floating-rate dividend structure under the approved framework. 

The company branded this instrument as MARS, standing for Metaplanet Adjustable Rate Security. The floating-rate mechanism aims to attract investors seeking predictable income streams while the company pursues Bitcoin accumulation.

Class B preferred shares received substantial enhancements through quarterly dividend structures and protective provisions. 

The board added a 10-year issuer call option priced at 130% of initial issuance value. Investors gained put rights exercisable unless Metaplanet completes an initial public offering within twelve months.

The authorization to issue Class B preferred shares to overseas institutional investors represents a critical component of the Bitcoin accumulation plan. 

International capital markets offer deeper liquidity pools than domestic Japanese sources alone. Foreign institutional participation could accelerate the timeline for reaching the 210,000 Bitcoin objective.

LeClair explained the capital reduction strategy will generate funds for new preferred stock dividends and honor share buyback obligations. The 210,000 Bitcoin target represents approximately $18.5 billion at current market prices. 

The plan proceeds despite increased pressure affecting digital asset treasury strategies across corporate holders.

The approved financial architecture allows Metaplanet to raise substantial capital without immediately diluting existing common shareholders. 

This approach addresses a primary concern among equity holders regarding aggressive cryptocurrency accumulation strategies. The company positions itself among the most ambitious corporate Bitcoin adopters globally through this three-year roadmap.

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